ASSET SPECIFICITY: THE CRITICAL SUCCESS FACTORS FOR HIGHER EDUCATIONAL SPECIFIC QUALITY
Purpose: Several studies on asset specificity largely focus on manufacturing firms, however study that revealed asset specificity as critical success factor for educational are still underdeveloped. This study aims to reveal asset specificity as critical success factor to enhance competitive advantage. Research methodology: This study based on a semi-systematic review of 83 the literatures relating to asset specificity. The literatures were taken from the bibliography of Scopus and Google Scholar spanning 1985-2021 which is then analyzed and compiled into the findings of the present study. Results: The results (1) higher education institutions have to offer educational services with more advantages than other higher education institutions, (2) service quality has been a crucial element in offering effective educational services or commonly known as higher education performance (HEdPERF), (3) asset specificity (consisting of human asset specificity, physical asset specificity, site-specificity, dedicated assets specificity, brand capital specificity, temporal asset specificity, and procedural asset specificity) enables higher education institutions to have specific HEdPERF, (4) asset specificity offers a specific framework for universities in offering comprehensive services. Universities’ competitive advantages are based on their unique resources, difficult to imitate, unique and cannot be replaced by competitors. Conclusions: university managers must build competitive advantage by optimizing the specificity of the assets that are managed optimally.
Asset Specificity, HEdPERF, Competitive Advantage